"Mr. Zhang, the school has been revised and the alumni website and short videos have been placed on the first-level page.
Instant messaging, as you might guess, gradually died down after it got over the heat."
Xun Mi sighed, "Penguin's foundation is still unbreakable!"
So we can only put instant messaging on the secondary page and no longer use it as the main function..."
Zhang Yida nodded, "That's all we can do, work hard to make the alumni website and short videos better."
Xun Mi said with a smile: "Another good news is that the number of registered users of Xiaomeng has exceeded 25 million, among which the number of current college students has exceeded graduated college students for the first time, reaching 13 million.
This number has basically covered half of the college students."
"Ah, half of the college students are covered so quickly?"
Seeing that Zhang Yida was a little surprised, Xun Mi explained: "This is thanks to Yuan Miao Fenqi, Le Fenqi and Gaomeng's local promotion partners, they are very powerful.
In addition, campus current affairs and campus friendships are still very attractive to college students. Once word of mouth is formed, it will grow very quickly."
"Looking at this, the growth of the "campus version" of school cuteness will slow down in the future. We have to hold some activities to stimulate it."
Zhang Yida suddenly remembered the U25 elite list agreed with Hurun, and asked specifically how the preparations for this matter were going.
"It can only be postponed. The university is already on winter vacation."
Xun Mi smiled bitterly. He was as busy as a top during this period, and he really didn't bother to do the selection activities that Zhang Yida mentioned.
Zhang Yida hasn't been to school for a long time, and he doesn't even feel like it's winter vacation.
However, he also knew that it was too late, so he said: "Okay, let's postpone it for now and continue preparations after the New Year."
"By the way, how are the school cuteness in the "workplace version" doing? I think the growth is not as good as that in the "campus version"?"
Xun Mi nodded, "Yes, our operations team has also noticed this problem.
According to our analysis, there should be the following reasons.
First, graduated college students have entered the workplace and their time and energy are limited;
Second, the software is not utilitarian enough, and its functions and content are not attractive enough;
Third, the publicity and promotion efforts are not enough, and many users do not know that such a software exists.
In response to these problems, according to your instructions, we are already developing workplace social networking and news aggregation information flow functions, which are expected to be completed in the next few days.
However, these two functions developed can only solve the second problem.
For users, the workplace social section can help them expand their network of contacts.
In the news aggregation section, we have reached cooperation with nearly a hundred high-quality new media such as 36Kr.
They will provide high-quality news content including venture capital, finance, technology, fashion, sports and many other fields."
"You have to pay attention to this. You must screen it carefully and don't let those media that are just pretending to be fake get in.
Especially those that make headlines, entertain gossip, and make up nonsense, we must resist them firmly.
Our news can be less, but it must be the essence and have something to say."
The workplace version of Xiao Meng is aimed at people in the workplace. Zhang Yida is afraid that unprofessional media will get in and lower the style of Xiao Meng.
Toutiao has its own rules of survival, but Xiao Meng is different. If you follow him, you will definitely die.
Xun Mi smiled and said: "Toutiao is also caused by the beginning of commercialization. The commercialization of any product will definitely lead to a decline in user experience.
Mr. Zhang, don’t worry! I understand what you mean, which is to use high-quality content to attract users.”
"By the way, Mr. Zhang, regarding the recruitment section and the enterprise account, when will we open it?"
“There’s no rush to realize the cash.”
Zhang Yida waved his hand and said with a smile, "It's too early to talk about this. The top priority is to attract as many of our 100 million target users as we can.
It’s not over once you’ve been included in the circle, you still need to use high-quality content to keep users active.”
"Well, I really need to take care of myself."
Xun Mi smiled again and said: "Mr. Zhang, do you need to increase the investment budget? At present, Xiao Meng has laid a good foundation, and it is a good time to take advantage of the victory."
“You can add more, but I prefer Xiaomeng to rely on word-of-mouth to attract new users.
The example of Bilibili is very vivid. Users who come spontaneously are the most sticky and active."
Xun Mi nodded, "I will definitely work hard in this direction!"
"I heard that the short videos posted by the school cute are very popular among college boys?"
Xun Mi smiled "hehe", as if you understand!
The short videos on School Meng are different from DouShi. One advantage is that you can choose to only view the short videos of your school, and then you can also see the real-name information of some girls.
…
"Didi, Jinshahe Venture Capital and Matrix Partners are going to sell shares in Huimin Travel?"
Huang Xiaofeng suddenly informed Zhang Yida of the news, and the latter was also stunned.
Didi wanted to quit, but Zhang Yida still figured it out. Why were Jinshahe and Jingwei Global?
According to the agreement, Zhang Yida, as the founder, had the right to preemptively repurchase shares, but he gave up the exercise of his rights.
Just kidding, I can hardly take the blame, so how can I have the money to take over their shares?
However, the three shareholders had already taken countermeasures. Zhang Yida could not exercise his rights, so they chose to sell their shares to SoftBank.
Jinshahe Venture Capital and Matrix Partners each hold 4.38% of Huimin Travel, while Didi holds 1.82% of Huimin Travel.
The three companies' shares totaled 10.58%, all of which were taken by SoftBank.
After losing the B+ round of bet, SoftBank transferred 1.315% of its shares to the management of Huimin Travel for free, and its shareholding ratio dropped to 4.16%.
After taking in the equity transferred by three more shareholders, the shareholding ratio will reach 14.74%.
Surpassing Blackshirt Capital, which holds 8.76% of shares, and Penguin, which holds 10.4%, it ranks as the company's second largest shareholder after Zhang Yida, who holds 30.57%.
In addition, there are two companies with higher shareholding ratios, Ruixiang Industrial Investment Fund and CITIC Industrial Investment Fund each holding 5% of the shares.
After completing the equity transfer procedures and completing the equity changes, SoftBank requested to reconvene the board of directors.
They made several demands. In addition to requesting for more board seats, the most important one was for Huimin Travel to achieve profitability as soon as possible.
Huimin Travel completed a US$1 billion Series C financing in April last year. After completing the purchase of 3 million bicycles and the purchase of trucks for various dispatch operation centers, Huimin Travel directly spent nearly US$250 million.
After the joint taxi-hailing and ride-hailing services were launched, nearly US$100 million was subsidized.
Excluding depreciation of bicycles and trucks, the shared bicycle business has a cash loss of 70 million yuan per quarter.
In addition, Huimin Travel is also burdened with an equity pledge loan of US$1 billion, which requires repayment of US$1,500 in interest every quarter.
However, this part of the interest was offset by investment income, and there was even a surplus.
After receiving US$1 billion in investment funds, Huimin Travel invested US$700 million of it in Yimin Wangjin Company.
Yimin Wangjin created an exclusive financial plan for them based on Huimin Travel’s financial model and financial planning.
This financial plan can be regarded as a P2P product.
On the financial management side, Huimin Travel has a loan amount of US$700 million;
On the loan side, there are more than 500,000 borrowers, with an average loan of less than 10,000, which is sufficiently small and dispersed.
There are long-term, medium-term and short-term loans, taking into account both profitability and liquidity.
In other words, if Huimin travel needs funds, he can come to Yimin Online Finance to withdraw part of the funds.
If not, the money will be loaned outside to generate income.
The interest rate offered by Yimin Wangjin is not low, with an annual interest rate of 10%, and it also provides a full guarantee for this US$700 million loan.
The shareholders of Huimin Travel naturally have no objections. Yimin Wangjin is not a leather company. A company with a market value of tens of billions of dollars can collapse at any time.
In addition, Huimin Travel also dispatched a supervision team to Yimin Online Finance to supervise and randomly check the flow of funds and the loan asset package at any time.
Therefore, the loan proceeds of US$700 million not only perfectly cover the interest on the loan of US$1 billion, but there is even a little leftover.
But as time goes by, by this year, Huimin Travel’s deposits in Yimin Online Finance are only 600 million US dollars, and the annual income of 60 million is just the same as the loan interest.
If Huimin Travel continues to spend like this, the income will probably not cover the interest.
A US$1 billion equity pledge loan with a loan term of three years and a maturity date of July 2018.
It has been a year and a half, and Huimin Travel is still close to positive cash flow, let alone balanced revenue including bicycle depreciation.
As for overall profitability, we still don’t know whether it will be the year of the monkey or the month of the horse.
However, as the aggregation of taxi-hailing and ride-hailing services slowly opens up the market, with a net profit of 300 million yuan a year, Huimin Travel can generate positive cash flow.
SoftBank is not very pessimistic about Huimin Travel.
Because they are playing a big game.
…
Didi invested US$50 million in Huimin Travel in March 2015. Within two years, the exit return was US$54.6 million!
The annual return on investment is 4.6%!
Looking at the contract and reports brought back by his assistant, Chen Wei became furious.
Mahler Gobi and Laozi's large certificates of deposit have caught up with this rate of return.
Moreover, you still have to pay tax on this little bit of income, and after paying the tax, there will be nothing left.
Chen Wei actually wanted Zhang Yida to recycle his 1.82% stake at a valuation of US$6 billion.
But Zhang Yida refused, so he found SoftBank again.
SoftBank agreed to take over the shares, but the price was very low, with a valuation of US$3 billion.
Chen Wei thought about it for a while and finally decided to hold his nose and admit it.
"Mr. Chen!"
The assistant led a man in his fifties in a suit into Chen Wei's office, and the latter shouted with a smile.
"Oh, Mr. Xue is here, please sit down."
Chen Wei asked the guests to sit down and asked his assistant to serve two drinks.
Mr. Xue wears glasses and looks elegant.
His real name is Xue Cunhe. He was one of the founders of UTStarcom in his early years. He later founded SoftBank China in 2000 and serves as the managing partner to this day.
Jack Ma received a US$20 million investment from SoftBank in 6 minutes. In fact, the real version is far from that.
In 1999, Masayoshi Son came to China to inspect projects and gave each interviewer a chance to present their project within 6 minutes.
After the presentation at that time, Jack Ma's team only received preliminary approval from Masayoshi Son and his investment team, but did not make a decision on the spot to invest in Jack Ma.
Xue Cunhe was responsible for the due diligence investigation on Ahri at the time. After completing the investigation, Xue submitted a report to SoftBank headquarters in Japan, saying that he strongly recommended that if he wanted to invest, he should only invest in Jack Ma.
At that time, there were four major B2B e-commerce companies in China: Meeta, 8848, Sparkice, and Ali Baba.
Before Sun Zhengyi came to China for inspection, Sparkice founder Zeng Qiang had already met Sun Zhengyi in Japan, and Sun Zhengyi promised him that SoftBank would invest in Sparkice.
Xue Cunhe supported Ali Baba. He believed that Jack Ma and his team were more reliable and credible, while Zeng Qiang, the person in charge of another project, was "too good at boasting."
With the strong support of Xue Cunhe and several other SoftBank China investment managers, Son stopped contact with Sparkice.
And in January 2000, more than two months after the "6 Minutes" presentation, Son invited Jack Ma to Japan to directly propose his decision to invest in Ali Baba.
Chen Wei is still full of respect for this legendary boss.
"Mr. Chen, Didi's strategic financing of US$5.5 billion, SoftBank has initially confirmed its investment intention."
Chen Wei looked happy and heard Xue Cunhe continue: "But we have a condition."